Economy and Business > Indicators
The National Institute of Statistics published new data on the labor market
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February 28, 2023 at 4:35 p.m.
The employment rate in January was 57.5% of the working-age population and fell two tenths in the monthly comparison. The figure is equivalent to 1,677,100 employed, according to data released this Tuesday by the National Institute of Statistics (INE). In the interannual comparison, this rate increased four tenths.
The economist, Aldo Lema, highlighted on his Twitter account that “After several months with year-on-year falls, during January the number of employed persons rose by 8,600 compared to the same month of the previous year.”
While, the unemployment rate stood at 8.5% in January, from 7.9% in December. With this, the number of unemployed stood at 156,700 people.
The rise in monthly unemployment was due to higher labor participation. The activity rate increased two tenths compared to December and was 62.9% in January, equivalent to 1,833,800 people.
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